Organizing And Document Filing Tips
May 28, 2020
If you’re like many people, it can be overwhelming at times with all the paper clutter that seems to accumulate and multiply. There are countless statements, receipts, and tax documents that all pile up and wait for you to get to them.
Needless to say, that is a lot of paperwork to keep track of and a very bad feeling when you need one of the documents and simply can't find them. Time to organize and take the stress out of your filing your personal documents!
Organizing And Document Filing Tips
- Sort It As It Arrives. It's easy to bring in the mail and toss it aside or to sort through your computer documents and simply walk away from the computer. Instead, take a moment and sort it right then and there. Separate the important papers and recycle the rest. Find a system that allows you to place documents in order of what they are instead of one large pile. For instance, chose 4 bins and label them for A) Review B) To Pay C) To-Do D) To File.
- Schedule A Weekly Time To Review And File. Take an hour each week to review your filing bin. If you make this a habit then it will take less and less time each week. Keep only the documents that are pertinent and discard the ones that are no longer valid. For example, when new insurance documents arrive, remove the one that is no longer valid. At this point take the documents and have clear and labeled sections in each filing compartment. Have folders for home, auto, bills, pets, insurance, and etc... Avoid the dreaded miscellaneous file if possible, as well as having too many folders that hold just one piece of paper.
- Create An Emergency Binder. This is also called a bug out binder. It is never a bad idea to collect the documents that you might need in the event of an emergency, for example, a fire. These documents should include but aren't limited to, birth certificates, marriage licenses, social security cards, passports, titles, bank information, current insurance information, and wills.
- Chose Fireproof Storage. No one ever wants to think of their lives going up in flames with fire but it is a good idea to chose to be safe when it comes to storing your documents. This should house all of your most important documents including your emergency binder.
- Go Paperless. Organizing documents digitally will pose fewer space challenges, and your computer’s search tool can be your best friend helping you find exactly what you’re looking for. Follow the same guidelines for digital labels as for physical ones. Back up files onto an external hard drive or use a cloud storage service.
The Takeaway
Avoid drowning in a sea of paperwork and chose to take the time to become organized. When tax season is upon you and you are looking for the important documents that you need at your fingertips, you will realize how glad you are that you did!
Contact us today, at Cartier CPA's our goal is to provide clients with the highest level of respect and quality of service.New Paragraph
Tips for Students with Summer Jobs
CPAs help businesses predict future sales, expenses, cash flow, and KPIs through customized forecasting models and regular variance analysis. Let Cartier CPAs provide the financial insights you need to drive growth.
Learn how partnering with an expert CPA for proactive tax planning can legally lower your business's tax liability by thousands through deductions, credits, and strategic structuring.
CPAs offer specialized expertise to handle ecommerce accounting intricacies like multi-state sales tax, revenue recognition, inventory, global expansion, and accurate financial reporting.
Work with a CPA for personalized guidance on taxes, investing, retirement planning, and more. A CPA can help you take control of your finances.
CPAs offer valuable services spanning forensic accounting, estate planning, non-profit accounting, financial advising, and strategic business growth. Learn how a CPA can help you thrive.
A CPA provides far more than just tax prep. Discover the many ways partnering with a top CPA can help you save money and build wealth through strategic tax and financial planning.
Work with a certified public accountant (CPA) to analyze, optimize, strategize, and adapt your finances to prepare for the future.
Are you mystified by the labyrinth of tax regulations? Have you ever wondered if you're not making the most of your income because of missed deductions? You're not alone.
Discover how hiring a CPA can save you money on your taxes, the benefits it brings, and the potential drawbacks.
Discover the invaluable advantages of using a CPA to guide you through your financial journey and help you avoid costly mistakes along the way.